Over-Improved Homes Do Sell

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

Last week I talked about over improved homes. And for pure investment...buying an over improved house is not advisable!

 

But for others... there is an exception.

 

exception

 

  And it depends on their needs.

People need a guest space. People need an in-law suite.

People need room for a special family member. People have a boomerang kid and a grandchild. People need space for an adult child who is willing to live in and help.    People need a teenage retreat. People need a home office. People need live-in caretakers. People need to rent part of their property to help pay the mortgage.  People like RE agents need a separate space. 

People have a special business or hobby. People do ballroom dancing, massage therapy, consultation, homeschooling...

Are you getting the idea? 

 

Getting the idea

Most of these needs can be met by what you might call an over-improved home. 

And this is what I am looking for.

If you have a home that is over-built for the neighborhood...there are buyers. It may take a bit longer. You probably won't have multiple offers.

Buyers are looking for what you have. 

 

This week a call came in about a home that started at less than 3000' and wound up over 6500'. Why? Because it met their needs. They made room for parents...first his.. then hers...each required special additions... It kept growing as the family's needs changed. And then it changed again. The dad passed away and a few years later the mom also died. Now we are back with a home that is way bigger than is needed. 

The decision now... is to stay or go? 

 

Not everyone wants a cookie cutter house.

If you feel your home is unique, too big, has unusual features... there may be others who have needs to fit your property.

 Over-improved homes do sell.

Thinking of selling your home

Call Margaret Rome.

 

 

 

Margaret Rome

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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
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Cute comment Buzz Mackintosh 

Jan 29, 2019 09:50 AM #35
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
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And Sally K. & David L. Hanson  That's what I'm looking for now...homes with separate entrances for other family members.

Jan 29, 2019 09:51 AM #36
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Margaret Rome, Baltimore Maryland
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Steve Loynd For a vacation area..over improved and additions should be perfect for those from out of town. Thanks for stopping by!

Jan 29, 2019 09:52 AM #37
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Thanks Richie Alan Naggar  This is true!.

Professional eyes and ears help this process along...

Jan 29, 2019 09:54 AM #38
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Hi Margaret:

An excellent point, indeed a series of them. Buyers needs vary dramatically, and change over time, and what someone insisted on at one point could become something that simply no longer works!

Jeff

Jan 29, 2019 05:42 PM #39
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Jeff Dowler, CRS Different buyers...different needs...different ways to use a home. Thanks for stopping by.

Jan 29, 2019 05:49 PM #40
Rainmaker
530,834
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

These types of homes take creative and of the box marketing to attract the right buyer too.  I agree that there is a buyer for every home, patience is required as you said.  Great post!

Jan 30, 2019 06:54 AM #42
Rainmaker
553,415
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

There is a huge demand for multi generation housing, specifically a separate smaller living area for older family members.  Difficult to find!

Jan 30, 2019 08:53 AM #43
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
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Thanks Karen Feltman These home take patience to sell. We just have to find the right buyer.

Jan 30, 2019 08:56 AM #44
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Margaret Rome, Baltimore Maryland
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Sell Your Home With Margaret Rome

Mary Hutchison, SRES, ABR We have that same shortage. Thanks for stopping by.

Jan 30, 2019 08:57 AM #45
Rainmaker
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Cynthia "Cyndi" Cook
Keller Williams Realty Alabama Gulf Coast - Orange Beach, AL
Residential Real Estate Sales and Vacation Rentals

Awesome blog Margaret! There is always a buyer out there but not everyone is as patient. 

Jan 30, 2019 09:03 AM #46
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Margaret Rome, Baltimore Maryland
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Cynthia "Cyndi" Cook Good to see you here in the RAIN!

Jan 30, 2019 09:10 AM #47
Rainmaker
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Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

A very good message here Margaret! Congratulations on the well deserved feature!

Jan 30, 2019 03:17 PM #48
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Margaret Rome, Baltimore Maryland
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Sharon Tara Thank you, my friend!

Jan 30, 2019 03:54 PM #49
Rainmaker
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Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

You are spot on.  A seller of a unique property needs an agent who will look for the right buyer.  Great post!

Jan 31, 2019 05:34 AM #50
Rainmaker
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Absolutely! The unique homes that might be over-improved or different than the other homes in the area, each have a unique buyer looking for it!

Jan 31, 2019 06:19 AM #51
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Margaret Rome, Baltimore Maryland
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Thanks, Shirley Coomer These unique properties are bought by unique buyers. I love when the match is made.

Jan 31, 2019 06:58 AM #52
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Margaret Rome, Baltimore Maryland
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Kat Palmiotti And it is fun finding these buyers. I do love real estate.

Jan 31, 2019 06:59 AM #53
Rainmaker
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Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Very true and good advice. Just as those who made the extensions, their is a buyer with similar needs out there. It may take a little longer as you say as you may need to wait for the right buyer. But it is identifying that buyer and marketing to them as well.

Jan 31, 2019 01:25 PM #55
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
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Nick Vandekar, 610-203-4543 It may just take longer and more creativity to find the right buyer.

Jan 31, 2019 01:28 PM #56
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